[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

Yeah, I'm using the Ninja program this time around and they have some good simulations. Did you save FAR for last?

[sstephenson]

Yes, I saved the beast for last! I have only attempted it once. Sitting for the exam on Friday morning.

REG - 75
BEC - 76
AUD - 76
FAR - 84, DONE 11/9/14!

[CPA2B_NJ]

I need your advise everyone. I took FAR on 08/23/2014 and I walked out of Prometric with a feeling that I hadn't passed. I was scoring in the low 60s with NINJA, so I know I didn't know enough, although I flagged only a few questions, and finish all SIMS with 10min left. Given that I won't find out the results in another 2 weeks, should I restudy FAR because of this feeling, or start on my new section?

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[moreinfo2013]

@CPA2B_NJ

Restudy and take it in Q4.

[Anonymous]

Since it is so close to the 4tg quarter, I would just continue studying for FAR and take it in early October.

[sstephenson]

CPA2B_NJ – Take a week off and wait for your school. Give yourself time to relax for a week.

REG - 75
BEC - 76
AUD - 76
FAR - 84, DONE 11/9/14!

[Anonymous]

What would the journal entry be for the cost of land such as purchase prize, surveying, cost of razing, ect?

[Anonymous]

I am confused about something regarding AFS securities. I understand that unrealized g/l goes to the BS as OCI vs a Trading Security which they go to the income statement in nonoperating income. But OCI is on the income statement and accumulated OCI is on the balance sheet. I'm missing something here…do we put the individual amounts each year in OCI on the income statement and it flows to accumulated in the BS? I'm misunderstanding something…

[jstay]

cpahopeful, i believe it all goes to land (less salvage for building materials sold, etc)

Dr: land

Cr Cash

cpa2014dream, oci is closed to aoci on the balance sheet. comprehensive income is net income plus oci. gain/losses go to oci which will be a separate line item in equity (aoci). hope i helped?

[Anonymous]

Thanks jstay, what if depreciation is involved? Would you go

DR. Land

DR. Dep Exp

CR. Cash

CR. Accum Dep

?

[Anonymous]

Also, when do you include accum depreciation for nonmonetary exchanges?

[jstay]

i dont think land gets depreciated?

[Anonymous]

Well, for example say building was being depreciated, isn't it still part of the lands cost?

[jstay]

was the building demolished?

[Anonymous]

Lets say for one example it was, and it wasn't for the other.

[Author]

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